Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), a
pioneer in creating healthy and convenient protein snacks, today
announced new and expanded distribution wins with a range of
marquee retailers, reflecting the growing consumer demand for its
healthy, high-protein snack brands, including Stryve, Vacadillos,
and Kalahari.
This announcement follows the successful completion of a product
rotation in Costco’s Southeast Region during the second quarter,
which contributed significantly to the Company’s momentum in the
club channel. Building on this momentum, Stryve is excited to share
that its products are now available in select BJ’s Wholesale Club
(“BJ’s”) locations. BJ's represents an important achievement for
the Company as it continues to expand its footprint in the
wholesale club space, providing members with access to Stryve's
high-quality, better-for-you snacks.
“We are thrilled to deepen our relationship with club retailers
like BJ’s Wholesale Club, especially following the success we’ve
had with Costco in the Southeast,” said Chris Boever, CEO of Stryve
Foods, Inc. “Our brands—Stryve, Vacadillos, and Kalahari—are all
seeing impressive growth in retail velocity, consistently outpacing
the broader meat snack category. We believe this momentum, paired
with our focus on superior product attributes and strong consumer
demand, positions us well to continue securing new distribution
opportunities, driving quality growth.”
In addition to BJ’s, Stryve has recently secured new
distribution with other prominent retailers across several channels
of trade, including Circle K Coastal, Wawa, Lowe’s Grocery,
Dierbergs, TrueNorth, G&M, Homeland, SPINX, Rotten Robbies,
Global Partners, and Leiszler Oil. These new placements bring the
Company’s premium air-dried snacks to even more consumers
nationwide.
The Company has also expanded distribution with several existing
retail partners, which is another indicator of how well the
Company’s brands are performing with consumers when on shelf at
retail. Retailers who have recently expanded distribution of the
Company’s products include Sprouts, CVS, QuikChek, The Fresh
Market, NCD, SPECS, Jimbo’s, and Hot Spot among others. This
increased presence will further strengthen Stryve's position in the
marketplace, helping more consumers discover and enjoy its
better-for-you meat snacks.
Preliminary Q3 2024 Select Financial
Metrics1
Stryve is also pleased to share preliminary insights into its
third quarter 2024 performance. Based on initial data, the Company
expects net sales for Q3 to reflect year-over-year growth of 30% to
35%, driven primarily by increased retail consumption of its
products. Similar to Q2’24, these preliminary topline results for
Q3 were partially constrained as the demand for the Company’s
products outstripped the Company’s ability to supply them due to
working capital constraints. In addition to the topline, Stryve
anticipates a meaningful year-over-year improvement in gross margin
for the quarter, despite facing higher beef prices compared to the
prior year.
“Our ability to deliver strong sales growth, despite our
liquidity constraints, while maintaining margin improvement, even
in a challenging inflationary environment, underscores the strength
of our strategy and the value of our differentiated product
offerings,” added Boever. “We are confident that this momentum will
translate into continued distribution gains resulting in meaningful
revenue growth—a key component of our path to profitability. We
believe that the capital we are raising will allow us to deliver on
that promise.”
Stryve’s unique air-dried snacks continue to resonate with
consumers seeking high-protein, better-for-you alternatives. With
zero grams of sugar, no artificial ingredients, and more protein
per ounce than traditional beef jerky, Stryve’s brands offer a
clean, delicious option for today’s health-conscious shoppers. The
Company remains committed to its mission of helping Americans snack
better, and this latest round of retail partnerships is a testament
to the appeal of its products.
_______________1 These estimates represent the most current
information available to management and could change. Our third
quarter financial closing and financial statement preparation
process has not been completed. As a result, our actual financial
results could be different, and those differences could be
material.
About Stryve Foods, Inc.Stryve
is a premium air-dried meat snack company that is conquering the
intersection of high protein, great taste, and health under the
brands of Braaitime, Kalahari, Stryve, and Vacadillos. Stryve sells
highly differentiated healthy snacking and food products in order
to disrupt traditional snacking and CPG categories. Stryve’s
mission is “to help Americans eat better and live happier, better
lives.” Stryve offers convenient products that are lower in sugar
and carbohydrates and higher in protein than other snacks and
foods. Stryve’s current product portfolio consists primarily of
air-dried meat snack products marketed under the Stryve®,
Kalahari®, Braaitime®, and Vacadillos® brand names. Unlike beef
jerky, Stryve’s all-natural air-dried meat snack products are made
of beef and spices, are never cooked, contain zero grams of sugar*,
and are free of monosodium glutamate (MSG), gluten, nitrates,
nitrites, and preservatives. As a result, Stryve’s products are
Keto and Paleo diet friendly. Further, based on protein density and
sugar content, Stryve believes that its air-dried meat snack
products are some of the healthiest shelf-stable snacks available
today. Stryve also markets and sells human-grade pet treats under
the brands Two Tails and High Steaks, made with simple, all-natural
ingredients and 100% real beef with no fillers, preservatives, or
by-products.
Stryve distributes its products in major retail
channels, primarily in North America, including grocery,
convenience store, mass merchants, and other retail outlets, as
well as directly to consumers through its ecommerce websites and
through the Amazon and Walmart platforms. For more information
about Stryve Foods, Inc., visit www.ir.stryve.com.
* All Stryve Biltong and Vacadillos products
contain zero grams of added sugar, with the exception of the
Chipotle Honey flavor of Vacadillos, which contains one gram of
sugar per serving.
Cautionary Note Regarding
Forward-Looking StatementsCertain statements made herein
are “forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as “anticipate”, “may”, “will”, “would”, “could”,
“intend”, “aim”, “believe”, “anticipate”, “continue”, “target”,
“milestone”, “expect”, “estimate”, “plan”, “outlook”, “objective”,
“guidance” and “project” and other similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters, including, but not limited to, statements
regarding Stryve’s expected results for the third quarter of 2024,
statements regarding Stryve’s plans, strategies, objectives,
targets and expected financial performance. These forward-looking
statements reflect Stryve’s current views and analysis of
information currently available. This information is, where
applicable, based on estimates, assumptions and analysis that
Stryve believes, as of the date hereof, provide a reasonable basis
for the information and statements contained herein. These
forward-looking statements involve various known and unknown risks,
uncertainties and other factors, many of which are outside the
control of Stryve and its officers, employees, agents and
associates. These risks, uncertainties, assumptions and other
important factors, which could cause actual results to differ
materially from those described in these forward-looking
statements, include: (i) the inability to achieve profitability due
to commodity prices, inflation, supply chain interruption,
transportation costs and/or labor shortages; (ii) the ability to
meet financial and strategic goals, which may be affected by, among
other things, competition, supply chain interruptions, the ability
to pursue a growth strategy and manage growth profitability,
maintain relationships with customers, suppliers and retailers and
retain its management and key employees; (iii) the risk that
retailers will choose to limit or decrease the number of retail
locations in which Stryve’s products are carried or will choose not
to carry or not to continue to carry Stryve’s products; (iv) the
possibility that Stryve may be adversely affected by other
economic, business, and/or competitive factors; (v) the effect of
the COVID-19 pandemic on Stryve; (vi) the possibility that Stryve
may not achieve its financial outlook; (vii) risks around the
Company’s ability to continue as a going concern and (viii) other
risks and uncertainties described in the Company’s public filings
with the SEC. Actual results, performance or achievements may
differ materially, and potentially adversely, from any projections
and forward-looking statements and the assumptions on which those
projections and forward-looking statements are based.
Investor Relations Contact:Investor
Relationsir@stryve.com
Stryve Foods (NASDAQ:SNAX)
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부터 11월(11) 2024 으로 12월(12) 2024
Stryve Foods (NASDAQ:SNAX)
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부터 12월(12) 2023 으로 12월(12) 2024